How and Where to Buy Bitcoin?

You can buy bitcoins from either exchanges, or directly from other people via marketplaces. You can pay for them in a variety of ways, ranging from hard cash to credit and debt cards to wire transfers, or even with other cryptocurrencies, depending on who you are buying them from and where you live.

Bitcoin Wallet

The place you store your bitcoins is called wallet. Just think of it as a sort of bank account. Bitcoin wallets store the private key that you need to access a bitcoin address and spend your fund.

Blockchain.info is the world’s most popular bitcoin wallet. It has also an app for iPhone and android so you can take your wallet with you wherever you go.

Bitcoin ATMs

Bitcoin ATMs are growing in number. You have to insert your cash and either scan your mobile wallet QR (Quick Response) code or receive a paper receipt with the codes necessary to load the bitcoins onto your wallet.

Bitcoin ATM Map

Here is the link to view the worldwide locations on bitcoin ATM map:

https://coinatmradar.com

How to store your Bitcoins

Bitcoin wallets store the private keys that you need to access a bitcoin address and spend your fund. You can use a digital or paper (to avoid having them on PC) wallet. However, it’s very important to secure and back up your bitcoin wallet. Please keep in mind that you don’t technicality store bitcoins anywhere! What you store in a bitcoin wallet is the secure digital keys used to access your public bitcoin addresses and sign transactions.

What is Blockchain?

It is a public distributed ledger that records bitcoin transactions. The maintenance of the Blockchain is performed by a network of communicating nodes running Bitcoin software.

What is Mining?

Mining is a record-keeping service. Miners keep the Blockchain consistent, complete, and unalterable by repeatedly verifying and collecting newly broadcast transactions into a new group of transactions called block.

Units

Satoshi is the smallest amount within bitcoin.

1 Satoshi = O.00000001 Bitcoin

1 Microbitcoin = 0.000001 Bitcoin

1 Millibitcoin = 0.001 Bitcoin

As of 22 June 2017, TripleClicks is accepting Bitcoin as a method of payment. SFI intends to be an active participant in this digital and decentralised currency revolution. Bitcoin is the best solution for millions of people all over the world who cannot get a bank account or make international transactions. With having access to the Internet, you no longer need a bank account, credit card, or other legacy payment method. You just need a smart phone and a free Bitcoin wallet app in order to send and receive money.

This is fascinating. Is Bitcoin the leading cryptocurrency? What would you say are the main reasons to start using Bitcoin and possibly other cryptocurrency? How does someone without a bank account buy Bitcoin?

Do you have any concerns that as Bitcoin continues to grow it will become subject to regulation from national governments? That is my biggest concern. I can’t see governments like the US government just ignoring it and ignoring the capital gains you can derive from investing in it…

Wow Balsam, I really didn’t know anything about Bitcoin before today, I heard of Bitcoin but never understood. This page really explains it well, thank you for writing about Bitcoin, now I understand and I read it twice…I didn’t realize how fast it grew so much..1 Bitcoin = $3000 Wow! Thanks again for writing about Bitcoin.

Thanks for this valuable information about Bitcoin. I do not know much about it so I was happy to see this post. It can be a rewarding investment if one cares to invest in it.
Thanks for this informative post.